Insurance & Banking Case Study
Increase Credit card spend
Increase spend from Platinum credit card holders.
- To distinguish the customer segment with variables.
- Increase its incremental revenue
- Analyze customer behavior and characteristics to target.
Segmented consumers based on Recency, Frequency, Monetary and Spend Category.Mapped lifestyle variables to segments to quantify spend potential and identify spend categories
Estimated share of wallet for each category by segment
Customize offers based on share of wallet
Targeted bill inserts and emails to promote offers
- Increased spend by 30% over the next 6 months
- Able to differentiate best and worst segments based on the pattern of spend
Understand patterns and reasons to minimize negative segment population and increase positive segment population